Toyota Tsusho raises FY profit forecast on supply chain, Africa units

TOKYO :Japan's Toyota Tsusho on Friday raised its full fiscal year profit forecast by 20 billion yen to 360 billion yen ($2.4 billion) on stronger growth in its supply chain and Africa divisions, and also promised a higher dividend payout.

The company, a member of the Toyota group, raised its full-year dividend forecast to 116 yen per share from the previous guidance of 110 yen and said it was targeting a payout ratio of 40 per cent or more, including buybacks, going forward.

($1 = 150.7800 yen)